News linked to both this project and an event.
Odaily Odaily News: Bankless co-founder David Hoffman responded to investors by disclosing his entry costs for four major tokens: NEAR, HYPE, ZEC, and LIT. Among them, the entry price for NEAR was approximately $1.40, HYPE around $45, ZEC about $560, and LIT approximately $1.35. According to previous reports, after liquidating his ETH holdings, the founder split the capital allocation, deploying 50% of the principal into VVV, NEAR, ZEC, and HYPE. The remaining 50% was kept for periodic dollar-cost averaging, with the subsequent funds fully used to purchase LIT.
Bankless co-founder David Hoffman posted on platform X, stating that after selling his ETH, he immediately allocated approximately 50% of the capital to VVV, NEAR, ZEC, and HYPE, and used the remaining funds for dollar-cost averaging into projects that have not yet seen significant price increases (NEAR was priced at around $1.40 at the time). He added that the remaining 50% of the capital has completed its position building in LIT.
Odaily Odaily reports: In response to Bankless founder David Hoffman's liquidation of his ETH holdings, Uniswap founder Hayden Adams posted a reply on platform X, stating that “ETH is Money” is the correct narrative, though perhaps misunderstood by most.Hayden Adams indicated that in the future, all assets will be tokenized, people will hold the assets they value most, and the most decentralized monetary system will manifest as “an infinite number of forms of money competing with each other.”He believes that with a low-cost, high-efficiency, 24/7 asset exchange system in place, a single unit of account is not necessary. At the same time, he stated that Uniswap, built on Ethereum, is “the best decentralized monetary system,” and that it is still in its early stages.Recommended reading: Bankless Co-founder's Confession on Liquidating ETH: Ethereum Did the Right Things, but “ETH is Money” Has No Future.
Bankless founder David Hoffman posted on X to explain his reasons for liquidating all his ETH holdings.Hoffman wrote: "I am still extremely bullish on the Ethereum network and the entire ecosystem -- Ethereum's architecture is fundamentally designed to maximize the success probability of its applications, L2s, and ecosystem. The 'fat-app' theory implies that applications on Ethereum can capture the vast majority of fee revenue; while the 'rollup-centric' roadmap means that L2s can achieve profit margins as high as 97%. However, for the asset ETH itself, I find it increasingly difficult to see it being structurally rerated by the market -- either upwards or downwards. So, I am selling ETH not because I am bearish on ETH, but because I believe the narrative 'ETH is Money' has essentially played out. I want to allocate my capital to other opportunities I see in the market."
Odaily Odaily News Bankless founder David Hoffman posted on X platform, stating that he has sold off all his ETH holdings.Meanwhile, Bankless co-founder Ryan Sean Adams said he remains bullish on ETH. Additionally, he revealed that Bankless Phase 1 — his 6-year collaboration with David Hoffman — has officially ended.Ryan Sean Adams stated that going forward, he will reduce his involvement in content direction and guest interviews, shifting more support to David Hoffman as he explores crypto and other new frontiers. He mentioned that he will still participate in the Rollup podcast weekly, but content leadership will be handed over to David Hoffman.